Catella AB (publ) (“Catella”) enters into a strategic partnership with Athanase Industrial Partner (“Athanase”), with the object to further develop and enhance the client offering through Catella Fondförvaltning AB. In conjunction, Athanase acquires 70 percent of the shares in Catella Fondförvaltning AB (“CFF”) for cash consideration of SEK 126-154 million, depending on CFF’s development until the transaction date.
The consideration corresponds to the consolidated enterprise value of CFF and the effect on profit or loss is estimated at SEK -13 – +15 million, depending on CFF’s development until the transaction date. In view of the transaction, consolidated deferred tax assets have been reassessed, resulting in an impairment of approximately SEK 70 million. Consequently, the aggregated loss after tax for the Catella Group for this is expected to amount to SEK -55 million to SEK -83 million in the second half of 2020.
The strategic partnership with Athanase will create opportunities to further develop and enhance the client offering. The objective is to assure good management of existing products while significantly raise the ambition level for new product launches. Adding more alternative strategies will complement the product portfolio for existing clients while strengthening conditions for widening the client base towards larger institutional clients.
“I am pleased that we have found a strategic partner that can assure CFF’s future development while our remaining ownership enables continued distribution of new products. Catella’s competence in the property segment and Athanase’s experience with further developing businesses set the stage for generating additional value for clients by means of new and innovative products in several different areas. As one example, we intend to offer real estate products to both private and institutional investors,” says Johan Claesson, Acting CEO at Catella.
“With focus on the client, we will create new products while making it easier to do business with us. We already have a list of new products that we intend to start launching in the second half of this year. In partnership with Catella, we will deploy Athanase’s industrial expertise to systematically simplify, reinforce and improve the company’s processes. The sole purpose is to elevate the client experience and create the conditions for long-term and successful management. Catella and Athanase have the wide-ranging experience necessary to run commercial activities targeting various types of clients. With our combined skills and expertise, we will guarantee continuity and reliability,” says Stefan Charette, Athanase Industrial Partner.

CFF is a wholly owned subsidiary of Catella and is engaged in active and alternative asset management for private and institutional investors. CFF has engaged in fund management since 1998 and currently has a strong platform within equities, credits and hedge funds with wide distribution via 20 contracted partners, primarily in the Swedish retail market. CFF is regulated by the Swedish Financial Supervisory Authority (Finansinspektionen) and its equivalent in Luxembourg (CSSF) is authorised to manage UCITS and Alternative Investment Funds (AIF).
CFF has 13 active funds and 26 employees and is part of the business area Equity, Hedge and Fixed Income Funds. Assets under management amounted to SEK 20.2 billion at the end of the first quarter 2020. The consideration to be paid for 70 percent of shares in the company will be SEK 126 million to SEK 154 million, depending on CFF’s development until the transaction date. During January 2022 Catella has the right to sell and Athanase the right to acquire the remaining 30 percent of the shares for a purchase price of SEK 60 million.
Closing of the transaction is subject to customary regulatory approval by Finansinspektionen in Sweden and CSSF in Luxembourg, which is expected to be obtained in the second half of 2020. SEB Corporate Finance is financial advisor and White & Case Advokat AB is legal advisor to Catella in connection with the transaction. Informed Portfolio Management (IPM) which is currently the other company included in Catella’s Equity, Hedge and Fixed Income Funds business area, is not affected by the transaction and will continue operating as an independent company within Catella.

About Athanase Industrial Partner
Athanase Industrial Partner is an investment company whose investment strategy is based on long-term and sustainable value creation in its portfolio companies. Athanase manages capital from larger Swedish institutions, such as the Swedish National Pension Funds, other pension funds, insurance companies and universities. Focus on operational improvements, optimal capital allocation and efficient company structure is a pillar of the investment strategy. The unique aspects of the Athanase business model are that everyone on the team has personal operational experience, profound expertise in running companies and all have been working together as investors since 2006 in AB Custos, Investment AB Öresund and Creades AB.

This is information that Catella AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above at 08.30 CET on 10 June 2020.

For further information, please contact:
Johan Claesson
Acting CEO, Catella
+46 70-547 16 36 +46 73-994 79 79

Stefan Charette
Athanase Industrial Partner
+46 73-994 79 79

Jonas Burvall
Head of Group Communications, Catella
+46 766-27 97 55
Jonas.burvall@catella.se

Catella is a leading specialist in property investments and fund management, with operations in 15 countries. The group has assets under management of approximately SEK 160 billion. Catella is listed on Nasdaq Stockholm in the Mid Cap segment. Read more online at catella.com.

The number of shares and votes in Catella AB (publ) has changed consequent upon the issue of 2,066,667 new Class B shares in May upon exercise of warrants in the incentive programme adopted by the extraordinary general meeting held 13 February 2014.
Subsequent to the exercise of warrants, the total number of shares in Catella AB (publ) at 29 May 2020 was 88,348,572 and the total number of votes was 98,470,792, of which 2,530,555 ordinary shares in Class A (carrying a total of 12,652,775 votes) and 85,818,017 ordinary shares in Class B (carrying a total of 85,818,017 votes).

For more information, please contact:
Niklas Bommelin
Investor Relations
+46 8 463 34 26, +46 768 91 12 40
niklas.bommelin@catella.se
Press contact:
Jonas Burvall
Head of Group Communications
+46 8 463 33 05, +46 76 627 97 55
jonas.burvall@catella.se

This information is information that Catella AB (publ) is obliged to make public pursuant to the Financial Instruments Trading Act. The information was submitted for publication at 07:00 CET on 29 May 2020.

Today Catella AB (publ) held its annual general meeting at which mainly the following resolutions were adopted in accordance with the proposals by the board of directors and the nomination committee:
• To adopt the income statement and balance sheet for the parent company and the consolidated income statement and consolidated balance sheet for 2019.
• Retained profits and net profit for the year shall be carried forward.
• Not to pay any dividends.
• To discharge the board of directors and the managing director from liability.
• The number of board members shall be six (6) and no deputy board members are to be elected, and that one auditor shall be elected.
• Fees to board members shall be paid as follows:
o the chairman of the board shall receive SEK 570,000 (previous year SEK 570,000) and other board members SEK 350,000 (SEK 350,000) each.
o fees for service on the board audit committee in the amount of SEK 130 000 (130,000) to the chairman of the committee and SEK 100,000 (100,000) each to the other members of the committee.
o fees for service on the board compensation committee in the amount of SEK 40,000 (40,000) to the chairman of the committee and SEK 30,000 (30,000) to the other member of the committee.
• The audit fee shall be payable in accordance with the approved invoice.
• Re-election of all existing board members, Johan Claesson, Johan Damne, Joachim Gahm, Anna Ramel and Jan Roxendal. New election of Tobias Alsborger. The election of Tobias Alsborger requires approval from relevant regulatory authorities. Jan Roxendal was elected chairman of the board.
• PricewaterhouseCoopers AB was re-elected as the company’s auditor for a new term from the end of the AGM 2020 to the end of the AGM 2021, with Daniel Algotsson as auditor-in-charge.
• To adopt principles for the nomination committee for the AGM 2021.
• To approve guidelines for remuneration to senior executives.

For more information, please contact:
Johan Claesson, CEO and President
+46 70 547 16 36
Niklas Bommelin, Investor Relations
+46 76 891 12 40
niklas.bommelin@catella.se

Catella is a leading specialist in property investments, fund management and banking, with operations in 15 countries. The group has assets under management of approximately SEK 160 billion. Catella is listed on Nasdaq Stockholm in the Mid Cap segment. Read more online at catella.com.

The Board of Directors of Catella AB (publ) has decided today to wind down operations in Catella Bank with the ambition to return the banking license to the supervisory authority during the first half of 2021.
Catella has previously announced that it expects a net result from divestments and costs related to the wind down, which protects value in the form of equity of SEK 437 million. Sales revenue has been in line with the values that were projected, while costs are higher, partly due to the fact that the wind down took longer than expected. Approximately SEK 350 million in values related to the wind down of the bank is expected to benefit Catella when the process is completed. Costs for wind down of approximately SEK 80 million will be reserved in Q2 2020.
The banking operations is expected to be completed during the first half of 2021 when a request of revoking the bank license will be submitted to the supervisory authority CSSF. Catella will then exit from the consolidated situation, which has resulted in extensive regulatory framework and an inefficient capital structure for the entire Group.

This is information that Catella AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 7.00 p.m. CET on May 26, 2020.

For more information, please contact:
Johan Claesson
CEO and President
+46 70 547 16 36
knut.pedersen@catella.se

Niklas Bommelin
Investor Relations
+46 76 891 12 40
niklas.bommelin@catella.se

Catella is a leading specialist in property investments, fund management and banking, with operations in 15 countries. The group has assets under management of approximately SEK 160 billion. Catella is listed on Nasdaq Stockholm in the Mid Cap segment. Read more online at catella.com.

he beginning of 2020 was characterized by the Corona pandemic, which is having a significant effect on all businesses, including Catella’s. We noted particularly heavy outflows from Equity, Hedge and Fixed Income Funds towards the end of the quarter. For remaining operations, total income amounted to SEK 503 M in the first quarter of 2020, up SEK 49 M on the first quarter 2019. The increase was mainly attributable to Property Investment Management. Operating profit increased by SEK 10 M, and amounted to SEK 72 M. Total assets under management decreased by SEK 12 Bn in year-on-year terms, adjusted for the terminated product Systematic Equity, and amounted to SEK 156 Bn at the end of the period, corresponding to a decrease of SEK 15 Bn on the end of 2019. Catella’s total cash and cash equivalents for remaining operations amounted to SEK 920 M at the end of the period, of which the majority in Catella’s subsidiaries.
January – March 2020
• Total income SEK 503 M (454)
• Net sales SEK 449 M (447)
• Operating profit/loss SEK 72 M (62)
• Profit/loss before tax SEK 46 M (45)
• Profit for the period from remaining operations SEK 24 M (23)
• Profit/loss for the period from disposal group held for sale SEK -14 M (110)
• Profit/loss for the period SEK 10 M (133), of which SEK 0 M (111) attributable to shareholders of the Parent Company
• Earnings per share* SEK 0 (1.32)
• Equity* SEK 1,577 M (1,604)
• Equity per share* SEK 18.28 (19.06)
• Assets under management SEK 156.2 Bn (168.2***)
• Variable earnings**, which will be recognized for profit at year-end, in Systematic Funds totalled SEK 0 M at the end of the period.
• Against the background of the coronavirus pandemic, the Board has decided to revoke the proposed dividend of SEK 0.90 per share, and proposes to the Annual General Meeting that no dividend be paid. Catella’s ambition is to convene an Extraordinary General Meeting in the second half of 2020 to address the matter of dividends.

* Attributable to shareholders of the Parent Company. Includes disposal group held for sale. ** Variable earnings calculated on Systematic Macros’ performance-based management fee. In order for the performance-based management fee to be settled at year end, and recognized for profit/loss, returns must be higher than comparative indices and the most recent level settled (High watermark). *** Adjusted for the product Systematic Equity.

For more information, please contact:
Marcus Holmstrand, CFO
Telephone: +46 8 463 32 52
Email: marcus.holmstrand@catella.se
Niklas Bommelin, IR
Telephone: +46 8 463 34 26
Email: niklas.bommelin@catella.se

This is information that Catella AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07.00 CET on 8 May 2020.
About Catella: Catella is a leading specialist in property investments and advisory and fund management, with operations in 15 countries. The group manages assets of SEK 160 billion. Catella is listed on Nasdaq Stockholm in the Mid Cap segment. Read more at catella.com.